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Welcome to FirstBank, FNB Customers

We are excited to welcome you to the FirstBank family! Starting Monday, May 18 at 8 a.m. CT you will be able to access online banking by selecting FirstBank Kentucky Customers from the drop down menu on our homepage. For additional information related to the merger, including a digital version of the merger magazine, click here or call us at 833-407-0700.


Coronavirus Aid, Relief and Economic Security—CARES Act

Thank you for trusting us to be your financial partner in good times and in challenging times like these. We are committed to using every resource available to help our customers. This includes providing access to federal loan programs like the Small Business Administration (SBA) “Paycheck Protection Program” contained in the broader “Coronavirus Aid, Relief, and Economic Security Act,’’ otherwise known as the ‘‘CARES Act’’. The Paycheck Protection Loan Program expands loan eligibility under the SBA 7a program with the intention to assist businesses up to 500 employees with covering costs related to payroll (including healthcare and certain related expenses), mortgage interest, rent, leases, utilities and interest on existing debt. The program authorizes up to $349 billion in forgivable loans to small businesses to pay their employees during the COVID-19 crisis.

Borrowers will need to certify that they’ve been impacted. There will be no personal guarantees or collateral associated with the loan. Loans are available for up to 2.5 times of your average monthly payroll during the year preceding the application. There will also be a payment deferral and loan forgiveness program. The loan amounts will be forgiven as long as the loan proceeds are used to cover payroll costs, and most mortgage interest, rent, and utility costs over the 8 week period after the loan is made and employee and compensation levels are maintained. All loan terms will be the same for everyone.

Your FirstBank Relationship Manager or local branch is your direct contact to apply for the Paycheck Protection Program and is ready to assist you in the online application process. For instructions, click below.



What is the name of the bill that includes the new SBA program?

“Coronavirus Aid, Relief, and Economic Security Act’’ or the ‘‘CARES Act’’. The special Small Business Administration (SBA) program many businesses are interested in is called the “Paycheck Protection Program”, contained in the CARES Act.

When can I apply for the Paycheck Protection Program?

Starting April 3, 2020, small businesses and sole proprietorships can apply for and receive loans to cover their payroll and other certain expenses through existing SBA lenders.

Starting April 10, 2020, independent contractors and self-employed individuals can apply for and receive loans to cover their payroll and other certain expenses through existing SBA lenders.

Will I be able to apply for these loans through FirstBank?

Yes. FirstBank is participating in this program to help our business customers through this difficult time.

Click here to download the FirstBank Online Application Instructions >

Who can apply for the Paycheck Protection Program?

All FirstBank business customers – including nonprofits, veterans organizations, Tribal business concerns, sole proprietorships, self-employed individuals, and independent contractors – with 500 or fewer employees can apply. Businesses in certain industries can have more than 500 employees if they meet applicable SBA employee-based size standards for those industries (click HERE for additional detail).

For this program, the SBA’s affiliation standards are waived for small businesses (1) in the hotel and food services industries (click HERE for NAICS code 72 to confirm); or (2) that are franchises in the SBA’s Franchise Directory (click HERE to check); or (3) that receive financial assistance from small business investment companies licensed by the SBA. Additional guidance may be released as appropriate.

What do I need to apply for the program and what documents are needed?

You will need to complete the Paycheck Protection Program loan application and submit the application with the required documentation by June 30, 2020. Please download the Checklist below for instructions and your FirstBank Relationship Manager or local branch will assist you during the process.

Click here to download the FirstBank Online Application Instructions >

Do I need to first look for other funds before applying to this program?

No. The SBA is waiving the usual requirement that you try to obtain some or all of the loan funds from other sources (i.e., waiving the Credit Elsewhere requirement).

How long will this program last?

Although the program is open until June 30, 2020, you are encouraged to apply as quickly as you can because there is a funding cap and lenders need time to process your loan.

What can I use these loans for?

You should use the proceeds from these loans on your:

  • Payroll costs, including benefits;
  • Interest on mortgage obligations, incurred before February 15, 2020;
  • Rent, under lease agreements in force before February 15, 2020; and
  • Utilities, for which service began before February 15, 2020.
What counts as payroll costs?

Payroll costs include:

  • Salary, wages, commissions, or tips (capped at $100,000 on an annualized basis for each employee);
  • Employee benefits including costs for vacation, parental, family, medical, or sick leave; allowance for separation or dismissal; payments required for the provisions of group health care benefits including insurance premiums; and payment of any retirement benefit;
  • State and local taxes assessed on compensation; and
  • For a sole proprietor or independent contractor: wages, commissions, income, or net earnings from self-employment, capped at $100,000 on an annualized basis for each employee.
How large can my loan be?

Loans can be for up to two months of your average monthly payroll costs from the last year plus an additional 25% of that amount. That amount is subject to a $10 million cap. If you are a seasonal or new business, you will use different applicable time periods for your calculation. Payroll costs will be capped at $100,000 annualized for each employee.

How much of my loan will be forgiven?

You will owe money when your loan is due if you use the loan amount for anything other than payroll costs, mortgage interest, rent, and utilities payments over the 8 weeks after getting the loan. Due to likely high subscription, it is anticipated that not more than 25% of the forgiven amount may be for non-payroll costs. You will also owe money if you do not maintain your staff and payroll.

  • Number of Staff: Your loan forgiveness will be reduced if you decrease your full-time employee headcount.
  • Level of Payroll: Your loan forgiveness will also be reduced if you decrease salaries and wages by more than 25% for any employee that made less than $100,000 annualized in 2019.
  • Re-Hiring: You have until June 30, 2020 to restore your full-time employment and salary levels for any changes made between February 15, 2020 and April 26, 2020.
What is my interest rate and when do I need to start paying interest?

1.00% fixed rate. All payments (principal, interest and fees) are deferred for 6 months; however, interest will continue to accrue over this period.

When is my loan due?

In 2 years.

Can I pay my loan earlier than 2 years?

Yes. There are no prepayment penalties or fees.

Do I need to pledge any collateral for these loans?

No. No collateral is needed.

Do I need to personally guarantee this loan?

No. There is no personal guarantee requirement. However, if the proceeds are used for fraudulent purposes, the U.S. government will pursue criminal charges against you.

What do I need to certify?

As part of your application, you need to certify in good faith that:
Current economic uncertainty makes the loan necessary to support your ongoing operations.

  • The funds will be used to retain workers and maintain payroll or to make mortgage, lease, and utility payments.
  • You have not and will not receive another loan under this program.
  • You will provide to the lender documentation that verifies the number of full-time equivalent employees on payroll and the dollar amounts of payroll costs, covered mortgage interest payments, covered rent payments, and covered utilities for the eight weeks after getting this loan.
  • Loan forgiveness will be provided for the sum of documented payroll costs, covered mortgage interest payments, covered rent payments, and covered utilities. Due to likely high subscription, it is anticipated that not more than 25% of the forgiven amount may be for non-payroll costs.
  • All the information you provided in your application and in all supporting documents and forms is true and accurate. Knowingly making a false statement to get a loan under this program is punishable by law.
  • You acknowledge that the lender will calculate the eligible loan amount using the tax documents you submitted. You affirm that the tax documents are identical to those you submitted to the IRS. And you also understand, acknowledge, and agree that the lender can share the tax information with the SBA’s authorized representatives, including authorized representatives of the SBA Office of Inspector General, for the purpose of compliance with SBA Loan Program Requirements and all SBA reviews.
Does the SBA have more information online about the Paycheck Protection Program?
Are there additional loans available through the Small Business Administration (SBA)?

Yes. The SBA is offering Economic Injury Disaster Loans (EIDLs). For more information and to apply directly through the SBA, please click here.

What else should I know?

Continue to be wary of online scams. We have seen a drastic increase in attempts to get consumers and businesses alike to provide private information that compromises their financial safety. Only provide information to trusted institutions via appropriate channels.

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FirstBank is closely monitoring the evolving circumstances related to Coronavirus (COVID-19). We are here to help and lend a hand to assist in creating financial readiness for what’s happening. Click here for the latest branch info and links to convenient services you can use when banking remotely.


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